We Mourn the Passing of Trustee, Nancy Wilgenbusch

Nancy Wilgenbusch, an independent trustee of Aquila Tax-Free Trust of Oregon, passed away in February, 2017. Ms. Nancy Wilgenbusch served with great integrity and distinction as a member of the Board of Trustees of Aquila Tax-Free Trust of Oregon since 2001.

Trustees and Officers of Aquila Tax-Free Trust of Oregon, and the staff of Aquila Investment Management LLC benefited greatly from her personal integrity, valuable business insight, and dedication to the interests of the shareholders of the Trust. All who worked with Ms. Wilgenbusch held her in high esteem and respected her unique and consistent ability to cut to the heart of any issue and make her points with strength and conviction.

On behalf of the Trust, we express our sincere appreciation and gratitude for Ms. Wilgenbusch’s contributions during her tenure as a Trustee of the Trust, and for her dedication to the interests of the Trust’s shareholders and the citizens of Oregon.